Phion Therapeutics was crowned Overall Winner of the 2017 InterTradeIreland Seedcorn Investor Readiness Competition, winning a cash prize of €100,000. The other main winner on the night was Cerebreon Technologies, which was named Best New Start Company, winning a cash prize of €50,000. The winners were announced at the grand final of the competition at Crowne Plaza, Northwood, Dublin on Wednesday 22ndNovember 2017.
Now in its 15th year, Seedcorn is the island’s biggest business competition for new start and early stage companies in any sector, from any part of the island. With over 275 competition entries, the winners went up against companies in a range of sectors including Medical Devices, Technology, FinTech, Design Engineering, Diagnostics and even Digital Ticket Sales. This year’s competition saw an unprecedented number of submissions from female entrepreneurs, with five women among the regional winners who went forward to the national final.
Belfast company, Phion Therapeutics sells services (contract research) and licenses (right to use their technology for pharmaceutical development and therapeutic applications). It intends to launch a third, more tangible, product that is defined as a research use tool kit that allows access to its technology in a less expensive and smaller kit that allows each end user the ability to test the technology.
Donegal company, Cerebreon Technologies is developing fintech software targeted at the UK insolvency industry. It brings an advanced level of machine intelligence and automation to the processes involved in insolvency. Its software also improves compliance with financial regulators and will reduce the amount and duration of the debtor’s arrangement.
The Seedcorn competition is aimed at new start and early stage companies which have a new equity funding requirement. It has an overall cash prize fund of €280,000, with no equity stake. Since it started in 2003, the 2775 companies that have gone through the competition have raised over €229m.
|Overall Winner €100k|
|Phion Therapeutics||Belfast||Northern Ireland||Early Start||www.phiontx.co.uk|
|Best New Start Company €50k|
|Cerebreon||Donegal||Connacht & Leinster||New Start||www.cerebreon.com|
|Regional Winners €20k each|
|Helixworks Technologies||Cork||Munster||New Start||www.helix.works|
|Thalman Health||Cork||Munster||Early Stage||www.thalmanhealth.com||Nova Leah||Dundalk||Connacht & Leinster||Early Stage||www.novaleah.com|
|Xenobics||Belfast||Northern Ireland||New Start||www.xenobics.co.uk|
|Special Award Winner €10k|
|Gray’s Clip||Lisburn||Northern Ireland||New Start||www.graysclip.com|